Sitex acquires another Meadowlands warehouse, plans renovations

223 Veterans Blvd. in Carlstadt — Courtesy: Sitex Group

By Joshua Burd

Sitex Group has purchased a 40,000-square-foot industrial building in Carlstadt, with plans to make several improvements as it markets the property for lease.

The investment firm on Wednesday announced the purchase of 223 Veterans Blvd. from New Space Realty Corp. It touted the property’s location near interstates 95 and 80 and routes 17 and 46, plus the fact that the property recently became vacant and available for lease.

Terms were not disclosed.

“This was a particularly attractive property for us, given its location, size, features and the fact that it is single occupant building,” Sitex Principal Blake Chroman said. “It’s a terrific addition to our portfolio and we anticipate it being leased quickly.”

Sitex has made several similar acquisitions in the Meadowlands submarket in recent years. The firm said the most recent tenant at 223 Veterans Blvd., a lighting and grip rental company, was its sole occupant for the past 10 years, but recently ceased operations, making the warehouse available immediately for lease.

It features four loading docks, one drive-in door, 4,000 square feet of office space and a fenced, secure lot. Sitex’s planned improvements to the property include updating the office space and adding new, modern warehouse lighting.

Joshua Burd, an award-winning reporter and editor, has been covering New Jersey commercial real estate for five years. Many industry leaders view him as the go-to real estate reporter in the state, a role he is eager to continue as the editor of Real Estate NJ. He is a lifelong New Jersey resident who has spent a decade covering the great Garden State.